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US stock indices jumped on Wednesday on prospects of de-escalation in the Middle East conflict.

At the opening bell, the Dow Jones Industrial Average rose 190.2 points, or 0.41%, to 46,314.24. The S&P 500 rose 42.0 points, or 0.64%, to 6,598.35​, while the Nasdaq Composite rose 244.5 points, or 1.12%, to 22,006.428.

Crude oil valuations decreased amid optimism that a de-escalation in conflict could facilitate the unhindered movement of energy tankers from the Persian Gulf to international markets. Consequently, Brent crude dropped 5.4% to $94.78 per barrel on Wednesday.

Currently, numerous oil vessels remain stranded outside the Strait of Hormuz near Iran, a disruption that previously pushed Brent prices toward the $120 threshold.

In the bond market, the yield on the 10-year Treasury fell to 4.33% from 4.39% late on Tuesday.

Shares of Norwegian Cruise Line Holding climbed 4.2%, and United Airlines gained 4%.

Robinhood Markets stock soared 7.1% after the company’s board authorized a program to send up to $1.5 billion to shareholders by buying back the stock.With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing.

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